Aveanna Healthcare Holdings (NASDAQ:AVAH) shares rose more than 5% in premarket trading Thursday after the company reported first-quarter results ahead of Wall Street expectations and increased its full-year outlook.
The home healthcare provider posted adjusted earnings per share of $0.18 for the quarter, surpassing analyst forecasts of $0.13 by $0.05.
Revenue totaled $647.9 million, beating consensus estimates of $613.19 million and marking a 15.9% increase from $559.2 million in the same period last year.
EBITDA Growth Accelerates in the First Quarter
Adjusted EBITDA increased 25.2% year-on-year to $84.4 million, representing 13.0% of revenue.
That compared with adjusted EBITDA of $67.4 million, or 12.0% of revenue, during the first quarter of the prior year.
The company also reported net income of $41.7 million for the quarter, up sharply from $5.2 million a year earlier.
Company Raises Full-Year Financial Outlook
Following the stronger-than-expected quarter, Aveanna raised its revenue and adjusted EBITDA guidance for full-year 2026.
The company now expects annual revenue between $2.56 billion and $2.58 billion, compared with its previous forecast of $2.54 billion to $2.56 billion.
The midpoint of the updated revenue outlook aligns closely with analyst expectations of $2.56 billion.
Aveanna also lifted its adjusted EBITDA forecast to a range of $328 million to $332 million, up from the previous range of $318 million to $322 million.
CEO Points to Strong Momentum in 2026
Chief executive Jeff Shaner said the company’s first-quarter performance reflected the strength of its operating model.
“Q1 reflects the strength and resiliency of our business model with an impressive start to 2026,” Shaner said. “Our first quarter results saw revenue and adjusted EBITDA increase 15.9% and 25.2%, respectively, when compared to the prior year period, and our guidance has been revised to reflect the positive momentum we see in 2026.”
Growth Recorded Across All Business Segments
Aveanna said revenue growth was supported by gains across each of its three operating divisions.
Compared with the first quarter of 2025, the PDS segment contributed an additional $75.7 million in revenue, while the HHH segment added $9.9 million and the MS segment contributed another $3.2 million.